Family Philanthropy

We believe the family’s foundation can be used for much more than just grant making.  Through the thoughtful and intentional engagement of family, the family foundation can serve as an effective forum for the establishment and continuity of the values and traditions important to you while also playing a significant role in preparing subsequent generations to be responsible stewards of the family wealth. When intentionally undertaken, family philanthropy can be much more than just giving.

FOR EXAMPLE, THE FAMILY’S FOUNDATION CAN…

• Serve as an avenue for learning:
  • Board Governance
  • Wealth Management
  • Principles of Sustainable Spending

• Provide a natural outlet for the expression of the family story, the lessons learned along the way, as well as the virtues and the values which have proven instrumental in contributing to the family’s success.
  • Foster a deepened connection amongst family members while encouraging meaningful conversation across generations
  • Combat materialism by establish inspirational purposes for wealth beyond one’s self
  • Counteract complacency by awakening personalized ambitions to make a meaningful difference in the world

If interested in using your family’s foundation for much more than just grant making, the experienced and specially trained consultants at Trustee Services Group would be privileged to help. Our initial time to further explore your family’s unique situation is always complimentary.

We would be privileged to share our extensive experience in this unique and highly specialized field by helping you to thoughtfully weave family philanthropy into the fabric of your family.

HERITAGE STATEMENT

Through the family’s charitable foundation, philanthropic resources are used to create an environment in which the family can prosper and thrive together. Significance is initially given to the development of the family vision, which is expressed and memorialized as the family’s Heritage Statement. This Statement sets forth the values, stories, history, life lessons, experiences, hopes and dreams of the generation who creates it, and serves as a ‘pre-inheritance’ resource and guide for the next generation. It becomes the source document for the inspiration, direction, planning and inter-family education that will help strengthen the family and equip the next generation to be responsible stewards of the family wealth.

TRAINING & MENTORING

With a focus on process rather than on performance, Heritage Planning trains & mentors each generation. Within the context of the family’s philanthropy, family members learn about the power and impact of wealth and the unique personal values which influence the family member’s decision making. When done well, this process often proves successful in counteracting materialism and can address complacency by awakening personalized ambitions to make a meaningful difference in the local community, or world.

In the area of business and finance, the charitable resources can also be used to address sound investment principles, governance, decision-making and sustainable spending. The family may choose to invest the Foundation’s wealth into companies, organizations, and funds with the intention to generate social and environmental impact alongside a financial return (commonly referred to as “Impact Investing”). Microfinance loans, which provide small-business owners in emerging nations with startup or expansion capital, is one such example.

Driven by the unique and personal interests of each family member, the Foundation may be used to teach about economic development, health issues, the arts, or other fields of interest and inspiration. Commonly, through their participation in this process, family members often grow closer in their relationship with each other as they share and learn about their often privately held personal interests.

Heritage Planning compliments the formal structures put in place for the governance of the family’s charitable Foundation. When intentionally addressed, the process by which a family communicates, makes decisions as a group, and resolve conflicts, are put into practice.  The way the meetings are structured and operated will eventually create healthy family norms while also encouraging family unity.